2010-10-28 PEARLAND ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING MINUTESMINUTES OF A REGULAR MEETING OF THE PEARLAND ECONOMIC DEVELOPMENT CORPORATION ("PEDC") BOARD OF
DIRECTORS OF THE CITY OF PEARLAND, TEXAS TO BE HELD THURSDAY, OCTOBER 28, 2010, 5:00 P.M., BOARD ROOM,
PEDC OFFICE, 1200 PEARLAND PARKWAY, SUITE 200, PEARLAND, TEXAS.
I. Call to order
The meeting was called to order at 5:04 p.m.
BOARD MEMBERS
President Vacant
Vice President Charles Gooden, Jr.
Secretary Lucy Stevener
Board Member Kurt Evenson
Board Member Gary Idoux
Board Member Rushi Patel
Due to a conflict in schedule, Board Member Mike O'Day was unable to attend the meeting.
EX-OFFICIO MEMBERS
Pearland Chamber of Commerce Carol Artz
STAFF MEMBERS
Matt Buchanan
Ramon Lozano
Kyler Cole
Jenny Brannon
Janice Vega
CITY OF PEARLAND STAFF MEMBERS
Rick Overgaard
Minutes of a Regular Meeting
October 28, 2010
Page 2
II, Approval of Minutes: Board Member Idoux made the motion, seconded by Secretary Stevener to approve
the minutes of the Regular Meeting of September 30, 2010 and Special Meeting of October 21, 2010.
Motion Passed: 4 — 0
Board Member Rushi Patel arrived at 5:08 p.m.
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report ending August 31, 2010: Assistant Director of Finance Rick Overgaard gave
a summary of the financial report. Report submitted to file.
B. Quarterly Investment Report ending September 30, 2010: Assistant Director of Finance Rick
Overgaard discussed the investment report. Report submitted to file.
V. New Business
A. Excuse Absence: Board Member Patel made the motion, seconded by Board Member Evenson to
excuse the absence of Board Member Idoux from the Regular Meeting of September 30, 2010 and
Board Member O'Day from the Special Meeting of October 21, 2010.
Motion Passed: 4 — 0
Abstained: Idoux
B. Excuse Absence: Included in motion for Item A.
C. Pearland Chamber of, Commerce Quarterly Report: Carol Artz-Bucek, President/CEO and Alan
Mueller, Chairman discussed activities relating to the Chamber, as well as the BizConnect program.
D. Pearland Economic Development Corporation Bylaws: Board Member Evenson made the motion,
seconded by Secretary Stevener to approve the Bylaws with recommended changes to the
following sections:
Section 3.03 Qualifications: No changes were made to the qualifications of Directors.
Section 3.05 Term: The Board approved the changes regarding the removal of the timeframe on
appointments and that Directors "may" continue to serve until reappointed or a new director is
appointed.
Section 3.07 Vacancies: The Board approved the removal of the timeframe from the appointment
by Council to fill vacancies.
Section 7.05 Contracts — General: Added a 15% contracting threshold increase for any given fiscal
year and the contracting threshold shall not drop below 3% of the Corporations 2009 gross sales tax
receipts in any future fiscal year.
Motion Passed: 5 - 0
Minutes of a Regular Meeting
October 28, 2010
Page 3
E. Old Townsite Grant Policy Revisions: Board Member Evenson made the motion, seconded by Board
Member Idoux to approve the policy revisions as recommended. Revised policy submitted to file.
Motion Passed: 5 - 0
F. Monthly Activity Report: Executive Director Buchanan summarized ongoing activity. Report
submitted to file.
The meeting temporarily adjourned at 6:43 p.m.
The meeting reconvened at 6:50 p.m.
VI. Other Business
Executive Session Under Texas Government Code
The meeting was adjourned to enter into Executive Session at 6:50 p.m.
1. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Update on
Business Attraction/Retention Projects
2. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#0817
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#0718
4. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#0608
The Board reconvened into Open Session at 7:37 p.m.
New Business Continued:
G. Economic Development Negotiations — Business Attraction/Retention Projects: No action was
taken.
H. Economic Development Negotiations — Prospect #0817: No action was taken.
Economic Development Negotiations — Prospect #0718: Board Member Evenson made the motion,
seconded by Board Member Patel to approve the Executive Director to negotiate and enter into a
reimbursement agreement for up to $32,247.00 with the company for public infrastructure costs.
Grant being payable at receipt of certificate of occupancy.
Motion Passed: 5 - 0
J. Economic Development Negotiations — Prospect #0608: Board Member Idoux made the motion,
seconded by Board Member Patel to approve the Executive Director to negotiate and enter into a
performance agreement with Prospect #0608. Incentive grant not to exceed $210,000.00.
Motion Passed: 5 - 0
Minutes of a Regular Meeting
October 28, 2010
Page 4
VII. Adjournment: The meeting was adjourned at 7:39 p.m.
Minutes approved as submitted and/or corrected this
2010.
ATTEST7
u y Sjevener, Secretary
L. LC_ A QL- K ,AD,
day of
Charles Goo en, Jr., Vice